"Banking" BrainPop Quizizz

What might happen if the government did not insure bank deposits?

• Banks would be robbed more often

• People would lose their savings if the banks went without business

• Banks would have to install safes with thick metal walls

• Banks could no longer make loans to their customers

Which of the following is a true statement about banking?

• Keeping your money at home prevents banks from charging you interest fees

• It is generally safer to keep your money in a bank than at home

• Most new businesses are forced to open without loans from a bank

• Most banks give their customers interest-free loans

Compared to a checking account, the rules governing your use of a savings account are generally more:

• Negotiable

• Interesting

• Restrictive

• Understanding

Wes wants to accumulate enough money to buy himself a new car. He should probably open a:

• checking account

• debit card account

• savings account

• credit card account

When you borrow money from a bank, where does that money come from?

• The money comes from other customers who have deposited with the bank

• The bank's own business checking account

• A credit card company

• The federal government

How do banks make profits?

• By charging people interest for borrowing money

• By charging fees to customers who write checks or use debit cards

• By charging people to keep money in their bank

• None of the Above - Banks do not make money

Banks generally pay a higher interest rate on savings accounts than on checking accounts. What inference can you draw from this?

• Checking accounts are useless

• Banks only lend money to people who have savings accounts

• The cost for processing checks is really high

• Banks encourage people to keep money in savings accounts

After writing a check for $172, your account is overdrawn by $31. How much money did you have in the account before you wrote the check?

• $203

• $141

• $172

• $131

What is the difference between a credit card and a debit card?

• A debit card is issued by the bank. A credit card is not.

• A debit card can only be used at an ATM. Credit cards can only be used in stores or on-line.

• A debit card takes money directly from your banking account; while using a credit card is a form of borrowing.

• Debit card users must pay interest to banks; credit card users collect interest from banks.

Why are banks an essential part of any functioning national economy? Choose the best answer.

• The interests they pay boosts the national economy.

• The money they loan the government pays the salaries of policemen, firemen, and soldiers.

• Without banks, the money supply would be extremely limited.

• The loans they provide keeps many businesses functioning.